Michael Green
The author is the CEO of the U.S. Studies Centre at the University of Sydney and the Henry A. Kissinger Chair at the Center for Strategic and International Studies.
The world is in the middle of the worst energy crisis since the 1970s and a return to the status quo ante is unlikely. Instead, countries like Korea, Japan, Australia and the United States should be thinking about forming a new energy security alliance to increase supply and stabilize markets for the longer term. What that alliance should look like is clear from how we got to this point.
An entry gate to the PCK Schwedt refinery in Schwedt, northeastern Germany, is pictured at the company's plant on April 30, one day before Russia will halt the pipeline flow of Kazakh oil to Germany, citing technical reasons. The stoppage from May 1 will impact the PCK refinery, run by the German subsidiary of Russia's state-owned oil company Rosneft, that supplies much of the Berlin region and the capital's international airport with fuel. The move by Moscow comes amid Russia's war against Ukraine and a global energy crisis sparked by the US-Israeli war against Iran, which has caused major disruptions to global oil and gas markets. [AFP/YONHAP]
